CPHY vs. CPAG

Last updated Jun 23, 2026

CPHY (F/m Compoundr High Yield Bond ETF) and CPAG (F/m Compoundr U.S. Aggregate Bond ETF) are both exchange-traded funds - CPHY is a High Yield Bonds fund tracking the Nasdaq Compoundr U.S. High Yield Bond Index, while CPAG is a Total Bond Market fund tracking the Nasdaq Compoundr U.S. Aggregate Bond Index. Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. CPHY charges 0.35%/yr vs 0.31%/yr for CPAG.

Performance

CPHY vs. CPAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m Compoundr High Yield Bond ETF (CPHY) and F/m Compoundr U.S. Aggregate Bond ETF (CPAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPHY achieves a 0.61% return, which is significantly higher than CPAG's 0.11% return.

CPHY

• 1D: -0.08%
• 1M: 0.53%
• YTD: 0.61%
• 6M: 0.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPAG

• 1D: -0.25%
• 1M: 0.45%
• YTD: 0.11%
• 6M: 0.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CPHY vs. CPAG - Yearly Performance Comparison

	2026 (YTD)	2025
CPHY F/m Compoundr High Yield Bond ETF	0.61%	2.43%
CPAG F/m Compoundr U.S. Aggregate Bond ETF	0.11%	2.26%

Correlation

The correlation between CPHY and CPAG is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 12, 2025	0.60

Return for Risk

CPHY vs. CPAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Compoundr High Yield Bond ETF (CPHY) and F/m Compoundr U.S. Aggregate Bond ETF (CPAG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

CPHY vs. CPAG - Drawdown Comparison

The maximum CPHY drawdown since its inception was -2.51%, smaller than the maximum CPAG drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for CPHY and CPAG.

Drawdown Indicators

	CPHY	CPAG	Difference
Max Drawdown Largest peak-to-trough decline	-2.51%	-2.78%	+0.27%
Current Drawdown Current decline from peak	-0.38%	-1.56%	+1.18%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.78%	+0.22%

Volatility

Volatility by Period

	CPHY	CPAG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	3.71%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	3.71%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	3.71%	-0.13%

CPHY vs. CPAG - Expense Ratio Comparison

CPHY has a 0.35% expense ratio, which is higher than CPAG's 0.31% expense ratio.

Dividends

CPHY vs. CPAG - Dividend Comparison

Neither CPHY nor CPAG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CPHY and CPAG in my portfolio?

CPHY and CPAG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPHY or CPAG?

On fees, CPAG is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPHY or CPAG?

CPAG is cheaper with a 0.31% expense ratio, compared with 0.35% for CPHY.

Which ETF pays a higher dividend yield, CPHY or CPAG?

CPHY and CPAG have nearly identical dividend yields, around 0.00%.

What is the main difference between CPHY and CPAG?

CPHY is categorized as High Yield Bonds, while CPAG is Total Bond Market. CPHY tracks Nasdaq Compoundr U.S. High Yield Bond Index, while CPAG tracks Nasdaq Compoundr U.S. Aggregate Bond Index. Their fees differ too: 0.35% for CPHY and 0.31% for CPAG.